Is there such a thing as UNDER-pricing a home?
By Bryce Fuller
(Coldwell Banker Residential Brokerage)
When I work with my clients, I sometimes hear the phrase "Well, I'm not going to GIVE away my home!" My response is often "You will never give away your home. The market won't let you." Allow me to explain...There is simply no such thing as UNDER PRICING A HOME! You see, the laws of economics will prevent a home from selling under market value. If a home is truly priced way under the average sales price in the area, the buyers will flock to it and you will receive multiple offers and one of these offers will be the highest price and that highest price IS THE MARKET VALUE OF THE HOME! Remember, a home is only worth what a buyer will pay for it. As you can see, market value is exactly where supply meets demand. If there are a large amount of homes available on the market, the inventory go...
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